In January, the Company received approval to change its name from International Croesus Ventures Corp to Zinco Mining Corporation.
In March, Christopher Graf, B.ApSc., P.Eng, was appointed President and Chief Executive Officer of the Company in place of Alastair Sinclair, who stepped down. Dr. Sinclair remains a director of the Company.
In July, Zinco received all assays and analytical results from an extensive soil geochemical campaign it recently conducted in the Cuale and Aranjuez volcanogenic massive sulfide (VMS) districts over several promising geophysical anomalies identified as part of the 2006 airborne survey. The Company now has an extensive database of 10,654 soil samples on three grids at Bramador, Aranjuez and Cuale, as well as 376 rock samples and 503 stream sediment samples. The new data have been used to interpret information from historic drill logs and prioritize the airborne geophysical anomalies from the 2006 survey, for drilling. Company landholdings overlap several past-producing mines in the Cuale, Bramador, Aranjuez and Desmoronado VMS camps, all located in western Jalisco State, Mexico.
2006 Highlights
Mr. William Easley, C. A., became a director of the company in February.
A 1926 line-kilometre, helicopter-borne geophysical survey was completed over the company's 100%-owned holdings in Jalisco state, as an important component of the company's continuing search for volcanogenic massive sulfide deposits. The survey was conducted by Fugro Airborne Surveys in March.
Preliminary results of the airborne geophysical survey indicated the presence of some of the anomalous resistivity areas straddling property boundaries. Consequently, a large block of ground (41,051 Ha), El Volantin, was applied for. This new property covers extensions of all anomalies recognized that straddled original property boundaries and forms a single, large contiguous block with el Maple, Almatea and Cabrel properties. Ground investigation of anomalous areas of the Cabrel (Bramador area) property is underway (April).
2005 Highlights
The company closed a private placement of 650,000 shares at $0.49 for proceeds of $318,500 which will be used primarily to fund further exploration of the volcanogenic massive sulfide prospects held in Jalisco state, Mexico.
The company's land position between the el Maple and Almatea properties was expanded. This additional ground acquisition ensures that the former producer, Cuatras Minas, is entirely within company property as well as forming a contiguous block with the el Maple and Almatea properties.